Obama and Netanyahu



"The election of Barack Obama as president is a political event in more than one country," wrote Amir Oren in Haaretz. "Three weeks after Obama is sworn into office, Israel will choose a new Knesset, which will then attempt to create from within it a new cabinet, headed by either Tzipi Livni or Benjamin Netanyahu. "Obama will be forced to wait until the end of the internal struggle and the establishment of a new government before he knows the identity of his new partner; but it is critical for Israeli voters to know now, as part of the information with which they calculate how to vote, whether the candidates for prime minister are on a course for collision or discussion with Obama. "The traffic reports say Livni is driving alongside Obama, and Netanyahu is approaching him head-on.... "Can Netanyahu avoid a confrontation with Obama? Not if he remains faithful to his present platform, which disagrees with negotiating with the Palestinians on the core issues of the conflict. This may be a good platform for convincing Benny Begin to return to the Likud, but if Netanyahu is courting Obama, then it is like sending a bouquet of thorns." The columnist, Elyakim Haetzni, noted that Mr Obama's: "designated chief of staff, Rahm Emanuel, while serving under president Clinton on the eve of the 1996 elections, threatened Netanyahu with a harsh response by the US Administration should Bibi not change his policy after being elected." But if imitation is the sincerest form of flattery, it would appear that Benjamin Netanyahu is an admirer of Barack Obama - at least when it comes to one of the instruments of Mr Obama's electoral success. The Neocon Express blog was among the first to note that the Likud leader's campaign web site bears a striking resemblance to that of the Obama-Biden campaign. Sources for the same blog said that President Bush's former political adviser, Karl Rove, was consulting for the Netanyahu campaign. Ynet reported: "Despite the obvious similarities between the sites, Netanyahu's Spokesman Yossi Levi claimed that the design of Bibi's website was not copied from Obama's site. " 'We view the comparison as a compliment,' Levi said. 'The guideline of the Likud's online campaign is openness and maximal transparency to the public, with maximal public participation in the election process.' " Lebanon's Daily Star reported that on Tuesday, Hizbollah leader Sayyed Hassan Nasrallah: "cautioned his supporters against expecting a change in US foreign policy with the election of President-elect Barack Obama. " 'Our Arab world, our Third World and our African world can empathise with Obama because of his past or the colour of his skin, but politics and interests are a different story,' he said. 'Don't exaggerate hopes nor give people high expectations so that no one is disappointed or makes miscalculations,' he added. 'I don't want to anticipate events, but logic dictates that we not bet on changes in injustice or believe that he will be more lenient or less unfair than his predecessor.' " Meanwhile, an editorial in Haaretz said that national reconciliation among Palestinians would support Israel's political interests. "Even in the absence of a peace agreement, Israel has great interest in normal life on the Palestinian side and the possibility of conducting a practical dialogue and engaging in genuine cooperation with the Palestinian leadership on economic and security issues. Even right-wing leaders like Benjamin Netanyahu and Benny Begin speak about an 'economic peace' as a bypass road to political peace. But for such cooperation to work, Palestinian leadership is needed that represents all the Palestinian people and enjoys widespread legitimacy and authority. "To achieve this, the Palestinians must have a national reconciliation, and Israel must recognise any government established with Palestinian approval - even if its members belong to Hamas or other factions. The Israeli illusion that the West Bank will be able to continue to be calm while Gaza is blockaded and shelled will end up being shattered. "None of this is an alternative to political negotiations or concessions that Israel and the Palestinians must make to reach a final-status agreement. But Israeli recognition of any Palestinian government that is established is liable to lay a practical and stable foundation for cooperation, and perhaps even for deeper confidence that will advance the political process. Israel must therefore turn an attentive ear to the statements coming out of Gaza, and reexamine its policy." An editorial in Arab News said: "If there is anything Hamas and Fatah agree on, it is that Israel cannot be persuaded to concede anything significant without effective resistance. The Israelis are not slovenly when it comes to spotting and furthering Palestinian weakness. The historical record, Israel's relentless territorial advance, as well as analyses of Israeli political forces and mindset, tell us that the Jewish state, in the absence of a countervailing force, will continue to expand and consolidate its colonial presence. If it were to offer the Palestinians anything, it would be at best a small, shredded and feeble entity. "Hamas and Fatah may not agree on the forms that resistance should assume but their leaders need to push for consensual politics. It is a demanding task, but this is the hour of statesmanship. Personal profit is a luxury we cannot afford when the Palestinian national resistance movement is falling apart. Palestinians may still be able to garner sufficient political will, and enable their leaders to emerge and see beyond their own or their factions' interests, and chart a new course. A vast majority of Palestinians are for reconciliation and for ending a feud detrimental to their political aspirations."

While Washington formulates a new approach to Afghanistan, some of the casualties from the war are roaming the streets of America

"On the three most urgent problems of US foreign policy Afghanistan, Iraq and Iran the nastiness of the reality means there is little room for change," wrote Bronwen Maddox for The Times. "On Afghanistan (or 'Af-Pak', as diplomatic slang now has it, to drive home that it and Pakistan are a joint problem), strategy will be shaped by the report from Lieutenant-General Douglas Lute around the end of this month (before the more-publicised report from General David Petraeus, the new head of Central Command, on Iraq and Afghanistan, next year). Obama has hinted that he wants to focus again on Osama bin Laden, to remind Americans, whose stamina for war is flagging, why their forces are there. He might, too, in a subtle but important shift, ask the European Union to do more on aid and trade to Pakistan. "The inevitable US request for more Nato help looks like being largely disappointed. No one wants to be the first to say no, but no one wants to say yes. Germany, in an election year, is not about to lift the 'caveats' that keep its forces back from fighting (and commanders might not want it to, officials add, given their combat inexperience). Britain, with more than 8,000 troops in Afghanistan, and half as many in Iraq, does not want to make a significant increase. If the US wants more combat troops and advisers, it will probably have to send many itself." In Eurasianet, Richard Weitz wrote: "Whatever the policy changes made by the Obama administration when it takes over in January, the challenges in Afghanistan will be daunting, according to participants in a panel discussion, held Nov 6 in Washington, DC, sponsored by the US Institute of Peace. "One of the panelists, Maj Gen Peter Gilchrist - now the British defense attache in Washington, but who previously served as deputy commander of Combined Forces command Afghanistan - urged the Obama administration, along with all other coalition governments, to 'get out of the "short-termism" brought about by the election cycles.' "Despite the importance of combating the insurgency, the Afghan population should be recognised as the 'center of gravity,' Gilchrist asserted. The general public in the West needs to understand that 'this is not about killing our way to victory,' he said. 'At a tactical level, the Taliban can't win. But they can win at a strategic level if we don't get our act together' by strengthening the performance of Afghanistan's security, political, and economic institutions. "Gilchrist said the new US administration has 'a real chance for changing some of the dynamics, and to persuade the international community to pull in behind a comprehensive approach'. Even so, he urged the Obama administration not to berate American allies in public for failing to supply more troops to the cause. Instead, the new White House team should more realistically encourage other governments to provide more non-military assistance." Meanwhile, the San Francisco Chronicle reported on the plight of some American soldiers once they return home. "Ethan Kreutzer joined the Army at the age of 17 and fought with the 19th Airborne in Jalalabad, Afghanistan. When he returned home, he had no money, no education and no civilian job experience. He soon became homeless. He slept in an alley off Haight Street [in San Francisco], behind two trash cans. "June Moss drove from Kuwait to Iraq as an Army engineer in a truck convoy. When she returned to the United States, she lost her home, and drove her two young children from hotel to hotel across Northern California. "Sean McKeen, a hardy, broad-shouldered 21-year-old with a wide smile, went to Iraq to clear land mines, and to get money for college. When he returned home, he became homeless in less than a week. He found himself sleeping in a cot in a crowded homeless shelter in San Francisco. "They are all part of a growing trend of homelessness among returning war on terrorism veterans. "More than 2,000 military personnel return home to California each month. Most have no specialised job experience, education or an easy familiarity with civilian life. And many have post traumatic stress disorder (PTSD), making it difficult to get along with friends and family, and almost impossible to hold down a job. " 'You feel like the whole world is against you when you get home,' said Kreutzer. 'I was sleeping on the sidewalk, whereas I had been wearing a uniform less than a year before.' Soft-spoken and restless, Kreutzer was recruited in a 7-Eleven [convenience store] while still in high school. After five months in Afghanistan, he had a mental breakdown, diagnosed as PTSD. When he returned to the United States, he spent almost four years living on the streets."

pwoodward@thenational.ae

The smuggler

Eldarir had arrived at JFK in January 2020 with three suitcases, containing goods he valued at $300, when he was directed to a search area.
Officers found 41 gold artefacts among the bags, including amulets from a funerary set which prepared the deceased for the afterlife.
Also found was a cartouche of a Ptolemaic king on a relief that was originally part of a royal building or temple. 
The largest single group of items found in Eldarir’s cases were 400 shabtis, or figurines.

Khouli conviction

Khouli smuggled items into the US by making false declarations to customs about the country of origin and value of the items.
According to Immigration and Customs Enforcement, he provided “false provenances which stated that [two] Egyptian antiquities were part of a collection assembled by Khouli's father in Israel in the 1960s” when in fact “Khouli acquired the Egyptian antiquities from other dealers”.
He was sentenced to one year of probation, six months of home confinement and 200 hours of community service in 2012 after admitting buying and smuggling Egyptian antiquities, including coffins, funerary boats and limestone figures.

For sale

A number of other items said to come from the collection of Ezeldeen Taha Eldarir are currently or recently for sale.
Their provenance is described in near identical terms as the British Museum shabti: bought from Salahaddin Sirmali, "authenticated and appraised" by Hossen Rashed, then imported to the US in 1948.

- An Egyptian Mummy mask dating from 700BC-30BC, is on offer for £11,807 ($15,275) online by a seller in Mexico

- A coffin lid dating back to 664BC-332BC was offered for sale by a Colorado-based art dealer, with a starting price of $65,000

- A shabti that was on sale through a Chicago-based coin dealer, dating from 1567BC-1085BC, is up for $1,950

The Perfect Couple

Starring: Nicole Kidman, Liev Schreiber, Jack Reynor

Creator: Jenna Lamia

Rating: 3/5

The White Lotus: Season three

Creator: Mike White

Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell

Rating: 4.5/5

COMPANY PROFILE
Name: Kumulus Water
 
Started: 2021
 
Founders: Iheb Triki and Mohamed Ali Abid
 
Based: Tunisia 
 
Sector: Water technology 
 
Number of staff: 22 
 
Investment raised: $4 million 
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A Bad Moms Christmas
Dir: John Lucas and Scott Moore
Starring: Mila Kunis, Kathryn Hahn, Kristen Bell, Susan Sarandon, Christine Baranski, Cheryl Hines
Two stars

No%20Windmills%20in%20Basra
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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

2025 Fifa Club World Cup groups

Group A: Palmeiras, Porto, Al Ahly, Inter Miami.

Group B: Paris Saint-Germain, Atletico Madrid, Botafogo, Seattle.

Group C: Bayern Munich, Auckland City, Boca Juniors, Benfica.

Group D: Flamengo, ES Tunis, Chelsea, (Leon banned).

Group E: River Plate, Urawa, Monterrey, Inter Milan.

Group F: Fluminense, Borussia Dortmund, Ulsan, Mamelodi Sundowns.

Group G: Manchester City, Wydad, Al Ain, Juventus.

Group H: Real Madrid, Al Hilal, Pachuca, Salzburg.

UAE currency: the story behind the money in your pockets
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